The Manufacturers Life Insurance Company Acquires 13,295 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

The Manufacturers Life Insurance Company raised its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 33.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,735 shares of the company’s stock after buying an additional 13,295 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AdaptHealth were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in AdaptHealth in the second quarter worth about $58,000. Blue Trust Inc. purchased a new stake in shares of AdaptHealth during the second quarter valued at $85,000. Innealta Capital LLC bought a new position in shares of AdaptHealth in the second quarter worth about $101,000. Quest Partners LLC increased its stake in AdaptHealth by 11,522.7% in the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock worth $102,000 after buying an additional 10,140 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in AdaptHealth during the 2nd quarter valued at about $113,000. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Up 2.8 %

Shares of NASDAQ:AHCO opened at $9.55 on Friday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -5.79, a PEG ratio of 1.36 and a beta of 1.10. AdaptHealth Corp. has a 12-month low of $6.43 and a 12-month high of $11.90. The business has a 50-day moving average price of $10.14 and a 200 day moving average price of $10.44. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). The business had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. Sell-side analysts expect that AdaptHealth Corp. will post 0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial lowered their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. Canaccord Genuity Group cut their target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird lowered their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada cut their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, UBS Group reduced their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.67.

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the transaction, the chief operating officer now directly owns 212,611 shares in the company, valued at approximately $2,389,747.64. This trade represents a 10.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.43% of the stock is currently owned by insiders.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.